Broker Dealers interested in obtaining NYSE Arca Options Membership must complete the application and agreements in order to trade on the NYSE Arca Options trading platform and become an Options Trading Permit (OTP) Holder.

Trading rights are granted through Options Trading Permits (OTPs). An OTP entitles you to trade options on the NYSE Arca Options facilities, including the electronic platform and the physical trading floor. The NYSE Arca platform is available to five types of market participants:

Lead Market Makers

Market Makers

Market Maker Authorized Traders

Agency Floor Brokers

Order Flow Providers

Every individual or organization applying for an OTP must complete an Exchange prescribed application and General Application Forms 1 and 2, as applicable. Other documents listed may be completed based on your organizational structure and intentions in trading on the facilities of the Exchange.

The application and all supporting documentation should be sent via email to Client Relationship Services at crs@nyse.com. Please ensure all attachments are clearly labeled.

INDIVIDUAL INVESTORS

At this time, retail investors do not have direct access to NYSE Arca. If you are a retail investor, please contact your brokerage firm to inquire whether it routes orders to NYSE Arca. You can gain entry to NYSE Arca through a direct-access brokerage firm.

To qualify for Short Form Options Trading Permit (OTP) Membership on NYSE Arca, the applicant must be an approved NYSE Arca Equities Trading Permit (ETP) Holder. Current ETP Holder applicants are eligible for expedited approval by completing this application.

A Market Maker is an OTP holder or firm registered with NYSE Arca to submit quotes electronically and make transactions as a dealer-specialist. Market Makers can operate from on or off the trading floor.

LEAD MARKET MAKERS

Lead Market Makers (LMMs) are Market Makers with more stringent obligations. In some cases, they receive participation guarantees. LMMs operate on or off the trading floor and perform Floor Broker functions if they meet specific requirements. Any OTP holder or firm registered as a Market Maker may apply to become a LMM. They must maintain specified cash or liquid assets based on the number of issues traded.

MARKET MAKER AUTHORIZED TRADERS

A Market Maker Authorized Trader (MMAT) is licensed to enter quotes and orders on NYSE Arca for the account of a registered Market Maker firm. An MMAT can be an individual OTP holder or officer, partner, employee, or a trader associated with the OTP firm. A passing score on the appropriate Market Maker exam is required.

ORDER FLOW PROVIDERS

If your firm currently enters option orders on NYSE Arca, no additional OTPs or changes are necessary.

Current Equity Trading Permit (ETP) holders on the NYSE Arca equity Platform who wish to enter options order can do so by acquiring an OTP.